Friday, March 17 2017 16:33
Alexandr Avanesov

Decisions of Council of EEC stimulate development of national economies of EEU countries

Decisions of Council of EEC stimulate development of national economies of EEU countries

ArmInfo. On March 17, a meeting of the Council of the Eurasian Economic Commission (EEC) was held in Moscow. Solutions to ensure consumer safety and the effectiveness of phytosanitary control in the countries of the Eurasian Economic Union (EEU) are approved.  The Chairman of the Council of EEC, Vice Prime Minister of the Kyrgyz Republic Oleg Pankratov drew attention to the importance of decisions taken by the Council. "In the modern world, norms and rules of technical regulation are designed to ensure the safety of goods for consumers, improve production efficiency and reduce costs for business", said Oleg Pankratov. "It is important for us to develop uniform approaches common to the countries of the Union for determining the conformity of goods and services to the standards of the Union". The EEC Council approved the zeroing of the import duty on ether alcohols and their derivatives, widely used in footwear production. According to the estimates of the Russian Union of Leatherworkers and Shoemakers, this measure should allow cutting the expenses of the enterprises of the industry by USD 735.3 thousand per year and increase the profitability of production by 13% compared to the current level (from 2.8% to 3.16%). Inclusion in the technical regulations of the EEU "On the safety of toys" a number of new provisions, including those aimed at ensuring the safety of products that have magnetic elements. In particular, the sale and distribution of toys with loose super-strong magnets of small size are prohibited. This will reduce the threat to the health of children, as it will eliminate the possibility of swallowing them. Elimination of a number of duplicative norms in the sphere of quarantine phytosanitary control carried out when the quarantine products are imported into the EEU and when it is moved between the Member States. This decision will help to remove unreasonable administrative barriers to trade and reduce conflict situations during quarantine phytosanitary control. 

Amendments to the technical regulations "On the s and products based on them". The period of the commencement of the norm providing the marking of explosives was postponed to January 1, 2021. The regulation regulates the circulation of explosives used in the coal, oil, gas and a number of other industries in the EEU countries.  Article 4, paragraph 1, of the technical regulation provides the introduction into the explosives of marking substances on which the country code of the country of manufacture, type of product, manufacturer, manufactured lot and date of manufacture are affixed. Concerning the decision on zeroing of import duties on ether alcohols and their derivatives, member of the Board (Minister) for Trade of the EEC Veronika Nikishina noted that this measure will be valid until February 28, 2019 inclusive. "Introduction of a zero rate on import of the specified chemical production will provide support of manufacturers of tanning, leather production and footwear which expenses for purchase of chemistry because of increase in rates of currencies have grown in 2,5 times, informed Veronika Nikishina.  "Thus, the zeroing of import duties should allow enterprises to cut costs and offer more competitive prices in the domestic and foreign markets".  The Eurasian Economic Commission, a permanent supranational regulatory body of the Eurasian Economic Union, began its work on February 2, 2012. The EEC includes representatives from Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Decisions of the Commission are binding for implementation in the countries of the Union. Chairman of the Board of the Eurasian Economic Commission is Tigran Sargsyan.  The treaty on the establishment of the Eurasian Economic Union was signed on May 29, 2014, entered into force on January 1, 2015. The Union ensures the freedom of movement of goods, services, capital and labor, the conduct of a coordinated, coordinated or unified policy in various sectors of the economy. The purpose of the Union is to provide conditions for the stable development of the economies of the member states in the interests of raising the standard of living of their people, comprehensive modernization, cooperation and increasing the competitiveness of national economies. The Supreme Eurasian Economic Council is the supreme body of the Union, which includes the Presidents of Member States. The Eurasian intergovernmental economic council is a body composed of the heads of governments of member states.  The Council of the Eurasian Economic Commission is a body composed of vice-premiers of the member states. In accordance with the annual rotation in 2017, the organs of the Union are chaired by Kyrgyzstan.  President of the Kyrgyz Republic Almazbek Atambaev is the chairman of the Supreme Eurasian Economic Council.

POST A COMMENT
Input digits     


News
WB approves new EUR 92.3 million loan to promote Green, Resilient and  Inclusive Development in ArmeniaWB approves new EUR 92.3 million loan to promote Green, Resilient and  Inclusive Development in Armenia
Inflow of private transfers from Russia to Armenia continues to  increase significantlyInflow of private transfers from Russia to Armenia continues to  increase significantly
AmCham introducing new standards into Armenia`s business culture -  Vahan KerobyanAmCham introducing new standards into Armenia`s business culture -  Vahan Kerobyan
Armenia, Brazil to strengthen trade and economic tiesArmenia, Brazil to strengthen trade and economic ties
Armenia to get EUR 92.3mln WB loan for budget deficit coverage Armenia to get EUR 92.3mln WB loan for budget deficit coverage 
Amazon Web Service to assist Armenia in old film digitizationAmazon Web Service to assist Armenia in old film digitization
Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance 
Expert: Expenditures of Dry Port project exceed $100 millionExpert: Expenditures of Dry Port project exceed $100 million
Armenia Securities Exchange launches AMXTrader new trading system for  financial market participantsArmenia Securities Exchange launches AMXTrader new trading system for  financial market participants
Armenia`s economic indicators impressive in 2022 - IFC Armenia`s economic indicators impressive in 2022 - IFC 
Armenia welcomes Belarusian construction companies Armenia welcomes Belarusian construction companies 
FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights 
Vahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loansVahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loans
Armenian winemakers participating in ProWein international trade fair  in DusseldorfArmenian winemakers participating in ProWein international trade fair  in Dusseldorf
Armenia`s vice-premier receives IMF repsArmenia`s vice-premier receives IMF reps
Armenia`s premier hosts IMF delegationArmenia`s premier hosts IMF delegation
Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister 
U.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr HovhannisyanU.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr Hovhannisyan
Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier 
In 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSESIn 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSES
Deputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economyDeputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economy
Armenia, Georgia discuss possibilities of expanding cooperation in  tourism sectorArmenia, Georgia discuss possibilities of expanding cooperation in  tourism sector
Rostelecom changes its mind about selling its Armenian subsidiary GNC  AlfaRostelecom changes its mind about selling its Armenian subsidiary GNC  Alfa
Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 
Armenia`s Deputy Minister of Economy hosts UNCCD delegation  Armenia`s Deputy Minister of Economy hosts UNCCD delegation  
Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level 
Saudi Flynas airline to launch flight to Yerevan in summerSaudi Flynas airline to launch flight to Yerevan in summer
Vahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other productsVahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other products
CBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economyCBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economy
Central Bank Head: FAO index has stabilized and there are no new  upward trendsCentral Bank Head: FAO index has stabilized and there are no new  upward trends
Martin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategyMartin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategy
CBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main driversCBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main drivers
Western sanctions against Russia pose a threat to Armenia - PMWestern sanctions against Russia pose a threat to Armenia - PM
New Armenia-ADB cooperation strategy under developmentNew Armenia-ADB cooperation strategy under development
AraratBank joins the United Nations Women`s Empowerment Principles InitiativeAraratBank joins the United Nations Women`s Empowerment Principles Initiative
Armenia`s CB leaves refinancing rate unchanged, 10.75%Armenia`s CB leaves refinancing rate unchanged, 10.75%
With organizational support of Ameriabank and SPRING PR, first  With organizational support of Ameriabank and SPRING PR, first  "Doing Digital-Exploring Digital Future" forum to be held in Yerevan  on April 5
Armenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructuresArmenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructures
 State Control Service returned about 121 million drams to budget in  2022 State Control Service returned about 121 million drams to budget in  2022
Vahan Kerobyan: No outflow of immigrants is expected in near futureVahan Kerobyan: No outflow of immigrants is expected in near future
Vahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizensVahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizens
This year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDBThis year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDB
Global economic recession risks remain significant - EDBGlobal economic recession risks remain significant - EDB
"MTS Armenia" changes its owner
Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022
Armenia on way to modernization of major branches of its economy -  vice-premierArmenia on way to modernization of major branches of its economy -  vice-premier
Karen Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platformKaren Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platform
Ameriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussionsAmeriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussions
Armenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridorArmenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridor
Hayk Yesayan: Team always has and will have innovative solutionsHayk Yesayan: Team always has and will have innovative solutions
IDBank - participant of DigiTec ExpoIDBank - participant of DigiTec Expo
Armenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant BagratyanArmenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant Bagratyan
Team Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G networkTeam Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G network
Vahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative termsVahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative terms
U.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MPU.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MP
3.5% decline in living standard of average statistical employee in  Armenia 3.5% decline in living standard of average statistical employee in  Armenia 
Turkey suddenly stops  transit of sanctioned goods to RussiaTurkey suddenly stops  transit of sanctioned goods to Russia
American SADA to contribute to digitalization of Armenian education  systemAmerican SADA to contribute to digitalization of Armenian education  system
Armenia`s rank fell by 19 points in WIPO Global Innovation Index.  Economist advises to update data on timeArmenia`s rank fell by 19 points in WIPO Global Innovation Index.  Economist advises to update data on time
Armenia`s travel agencies lost 25% of income in 2022 due to dram  revaluationArmenia`s travel agencies lost 25% of income in 2022 due to dram  revaluation
Read more


Exchange rates
27.03.2023
RUB5.080.01
USD388.530.46
EUR418.372.20
GBP476.383.05
CAD283.041.46
JPY29.56-0.32
CNY56.54-0.22
CHF424.112.80